Volkswagen plans 50,000 more job cuts amid biggest overhaul in its history

Volkswagen, the world's No. 2 automaker, is cutting back its workforce as it tries to fight Chinese automakers. Julian Stratenschulte/picture alliance via Getty Images Volkswagen is planning 50,000 job cuts in roughly three years. It comes as European automakers face stiff competition from low-cost Chinese automakers. High energy prices, complex vehicle portfolios, and US auto tariffs aren't helping, either. Volkswagen plans to cut roughly 50,000 more jobs worldwide. On Thursday, the…